Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]

Provision - for - Warranty - Expenses - is - ascertained - liability - allowable - as - Business - Expenditure - ITAT - TAXSCAN

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the provision for Warranty Expenses is ascertained liability and is allow able as business expenditure. M/s.Trivitron Healthcare Pvt. Ltd., the assessee filed appeal against the order of the Principal Commissioner of Income Tax-3, Chennai, dated 22.03.2019 passed u/s.263 of the Income Tax…

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